Climate groups say a change in coding can reduce bitcoin energy consumption by 99%
A simple switch in the way transactions are verified could reduce bitcoin’s energy-guzzling mining habits
Bitcoin mining already uses as much energy as Sweden, according to some reports, and its booming popularity is revitalizing failing fossil fuel enterprises in the US. But all that could change with a simple switch in the way it is coded, according to a campaign launched on Tuesday.
The campaign, called Change the Code Not the Climate and coordinated by Environmental Working Group, Greenpeace USA and several groups battling bitcoin mining facilities in their communities, is calling on bitcoin to change the way bitcoins are mined in order to tackle its outsized carbon footprint. Read original full article
#Carbon Footprint
#Climate Change
#Electricity
#Environmental
#Greenhouse Gas Emissions
Atlantis Viewpoint
"Mining" for cryptocurrencies is power-hungry, involving heavy computer calculations to verify transactions. To increase profits, people often connect large numbers of servers (miners) to the network - even entire warehouses full of them. These use lots of electricity because the computers are constantly working to complete the puzzles. According to some reports, its booming popularity is revitalizing failing fossil fuel enterprises in the US, due to the increased electricity demands.
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